Dollar closes 11 paisas higher at Rs281.67 by the end of trading


Karachi: In light of Pakistan’s rising debt obligations, increasing demand for foreign exchange, and global factors such as the surge in crude oil prices due to the US reducing tariffs on Chinese goods, the US dollar once again strengthened against the Pakistani rupee in both foreign exchange markets on Tuesday.
Although the issuance of Rs30 billion in green sukuk this week and other positive economic indicators temporarily brought the dollar down by 9 paisas to Rs281.47 during trading in the interbank market, the trend did not hold.
Due to renewed demand for imports and external payments—combined with expectations of a $1 trillion investment in the US during President Biden’s visit to Saudi Arabia, which raised concerns of a stronger dollar globally—the dollar closed 11 paisas higher at Rs281.67 by the end of trading.
In the open currency market as well, the dollar appreciated by 19 paisas, closing at Rs283.69.
Dubai successfully tests first air taxi
- 6 hours ago

Japan records hottest June in its history this year
- 2 hours ago
US officially ends sanctions program on Syria
- 5 hours ago
Musk proposes new political party, targets lawmakers over Trump-backed spending bill
- 3 hours ago
Govt upholds decision to import 500,000 tons of sugar
- an hour ago

Trump says will ‘take a look’ at deporting Musk
- 2 hours ago

Sindh govt declares July 5-6 public holidays for Youm-e-Ashura
- 4 hours ago
Pakistan's Sadia Iqbal retains top spot in ICC Women's T20 bowler rankings
- 2 hours ago

Over 50,000 evacuated as wildfires devastate Turkey’s Izmir
- 6 hours ago

Polio campaign extended to age 15 amid new cases in older children
- 4 hours ago

KSE-100 index surges past 127,000 points
- 6 hours ago

Federal Govt decides to shut down utility stores from July 10
- 2 hours ago